On June 30, 2023, ADICON Holdings Limited ("ADICON Holdings") (09860.HK) was successfully listed on the Main Board of the Stock Exchange of Hong Kong. ADICON Holdings is offering 33,192,500 shares (17,288,500 new shares and 15,940,000 old shares) at a global offering price of HK$12.32 per share, raising total proceeds of approximately HK$409 million.

Founded in 2004, ADICON Holdings is a national chain of independent medical laboratories and one of the top three independent medical laboratories (ICLs) in China. ADICON Holdings currently operates 33 laboratories nationwide, offering more than 4,000 tests and providing best-in-class, high-quality and diverse medical testing services to more than 19,000 customers, including medical institutions, medical screening centers, biopharmaceutical companies and CROs.

The project is co-sponsored by Morgan Stanley Asia Limited and Jefferies Hong Kong Limited.

Ernst & Young as its auditors and reporting accountants;

Han Yi Law Offices, Kirkland & Ellis as PRC counsel and Hong Kong and US counsel, respectively, to the issuer;

Commerce & Finance Law Offices, Clifford Chance as PRC legal counsel and Hong Kong and US legal counsel to the joint sponsors and underwriters, respectively;

Frost & Sullivan (Beijing) Inc. Shanghai Branch Co. is its industry advisor.